Inscription Capital LLC Grows Stake in Meta Platforms, Inc. (NASDAQ:META)

Inscription Capital LLC raised its holdings in Meta Platforms, Inc. (NASDAQ:META) by 3.0% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,255 shares of the social networking company’s stock after buying an additional 183 shares during the quarter. Inscription Capital LLC’s holdings in Meta Platforms were worth $3,581,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Delos Wealth Advisors LLC raised its holdings in Meta Platforms by 527.3% in the 1st quarter. Delos Wealth Advisors LLC now owns 69 shares of the social networking company’s stock worth $34,000 after purchasing an additional 58 shares in the last quarter. POM Investment Strategies LLC purchased a new position in shares of Meta Platforms during the second quarter valued at about $38,000. Ruedi Wealth Management Inc. raised its stake in Meta Platforms by 122.2% in the second quarter. Ruedi Wealth Management Inc. now owns 80 shares of the social networking company’s stock worth $40,000 after buying an additional 44 shares in the last quarter. Halpern Financial Inc. purchased a new stake in Meta Platforms in the third quarter worth about $46,000. Finally, West Financial Advisors LLC bought a new stake in Meta Platforms during the 3rd quarter valued at approximately $49,000. 79.91% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on META. The Goldman Sachs Group increased their target price on Meta Platforms from $555.00 to $636.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Royal Bank of Canada reiterated an “outperform” rating and issued a $570.00 price objective on shares of Meta Platforms in a report on Thursday, August 1st. DA Davidson assumed coverage on shares of Meta Platforms in a research report on Tuesday, September 10th. They issued a “buy” rating and a $600.00 target price on the stock. Piper Sandler lifted their price target on shares of Meta Platforms from $545.00 to $575.00 and gave the company an “overweight” rating in a research report on Thursday, August 1st. Finally, Guggenheim boosted their price objective on shares of Meta Platforms from $600.00 to $665.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. Two research analysts have rated the stock with a sell rating, four have given a hold rating, thirty-five have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $621.63.

Insider Activity

In related news, CEO Mark Zuckerberg sold 84 shares of the firm’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $600.00, for a total value of $50,400.00. Following the transaction, the chief executive officer now directly owns 518,424 shares of the company’s stock, valued at approximately $311,054,400. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Meta Platforms news, CEO Mark Zuckerberg sold 84 shares of the company’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $600.00, for a total value of $50,400.00. Following the completion of the sale, the chief executive officer now owns 518,424 shares in the company, valued at $311,054,400. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Susan J. Li sold 8,950 shares of Meta Platforms stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $526.76, for a total value of $4,714,502.00. Following the transaction, the chief financial officer now directly owns 74,579 shares in the company, valued at approximately $39,285,234.04. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 250,818 shares of company stock valued at $132,569,993 in the last 90 days. Company insiders own 13.71% of the company’s stock.

Meta Platforms Trading Down 0.2 %

Shares of NASDAQ:META opened at $591.80 on Thursday. Meta Platforms, Inc. has a 52-week low of $296.86 and a 52-week high of $602.95. The stock has a market capitalization of $1.50 trillion, a price-to-earnings ratio of 33.99, a PEG ratio of 1.42 and a beta of 1.22. The company has a debt-to-equity ratio of 0.12, a quick ratio of 2.83 and a current ratio of 2.83. The stock’s 50-day simple moving average is $554.49 and its two-hundred day simple moving average is $512.18.

Meta Platforms (NASDAQ:META) last posted its quarterly earnings data on Wednesday, July 31st. The social networking company reported $5.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.70 by $0.46. Meta Platforms had a net margin of 34.34% and a return on equity of 34.16%. The company had revenue of $39.07 billion for the quarter, compared to the consensus estimate of $38.26 billion. During the same quarter last year, the firm posted $3.23 earnings per share. The firm’s revenue was up 22.1% compared to the same quarter last year. Analysts expect that Meta Platforms, Inc. will post 21.44 EPS for the current year.

Meta Platforms Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, September 26th. Stockholders of record on Monday, September 16th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.34%. The ex-dividend date was Monday, September 16th. Meta Platforms’s dividend payout ratio is presently 11.49%.

Meta Platforms Profile

Meta Platforms, Inc engages in the development of products that enable people to connect and share with friends and family through mobile devices, personal computers, virtual reality headsets, and wearables worldwide. It operates in two segments, Family of Apps and Reality Labs. The Family of Apps segment offers Facebook, which enables people to share, discuss, discover, and connect with interests; Instagram, a community for sharing photos, videos, and private messages, as well as feed, stories, reels, video, live, and shops; Messenger, a messaging application for people to connect with friends, family, communities, and businesses across platforms and devices through text, audio, and video calls; and WhatsApp, a messaging application that is used by people and businesses to communicate and transact privately.